$GDRZF

GOLD RESERVE INC

CIK:0001072725|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
INCOME (LOSS)
Interest income	$ 1,911,292	$ 582,523
Loss on disposition of property, plant and equipment (Note 6)		(8,410)
Unrealized gain (loss) on equity securities (Note 5)	1,077,839	(7,165)
Foreign currency loss	(40,206)	(100,275)
Total Other Income	2,948,925	466,673
Corporate general and administrative (Notes 2 and 9)	4,861,109	5,149,650
Legal and accounting	1,914,004	1,924,808
Enforcement of Arbitral Award (Note 2)	1,087,770	450,477
Exploration costs	64,201	62,096
Equipment holding costs	148,200	168,117
Write-down of equipment (Note 6)	193,750	622,969
Contingent value rights (Note 2)		461,835
Siembra Minera Project and related costs (Note 7)		223,237
Total Expense	8,269,034	9,063,189
Net loss before income tax expense	(5,320,109)	(8,596,516)
Income tax expense (Note 10)	(17,798,883)
Net loss and comprehensive loss for the year	(23,118,992)	(8,596,516)
Net loss per share, basic and diluted	$ (0.23)	$ (0.09)
Weighted average common shares outstanding, basic and diluted	99,548,080	99,547,710

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities:
Net loss for the year	$ (23,118,992)	$ (8,596,516)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock option compensation	100,699	159,218
Depreciation	63,012	104,143
Write-down of equipment	193,750	622,969
Loss on disposition of property, plant and equipment		8,410
Unrealized (gain) loss on marketable equity securities	(1,077,839)	7,165
Amortized interest on term deposits	(1,663,116)	(122,627)
Changes in non-cash working capital:
Decrease in income tax receivable		591,735
Increase in income tax payable	9,707,779
Increase in severance accrual	211,530	531,981
Increase (decrease) in contingent value rights accrual	(172,077)	111,835
Net decrease in prepaid expense and other	169,451	47,724
Net increase in payables and accrued expenses	66,202	171,379
Net cash used in operating activities	(7,428,497)	(6,362,584)
Cash Flows from Investing Activities:
Purchase of term deposits	(46,594,349)	(27,376,561)
Proceeds from maturity of term deposits	46,395,438
Proceeds from disposition of property, plant and equipment	775,000	2,004
Net cash provided by (used in) investing activities	576,089	(27,374,557)
Cash Flows from Financing Activities:
Proceeds from the exercise of stock options	1,081
Net cash provided by financing activities	1,081
Change in Cash and Cash Equivalents:
Net decrease in cash and cash equivalents	(6,851,327)	(33,737,141)
Cash and cash equivalents - beginning of year	15,380,489	49,117,630
Cash and cash equivalents - end of year	$ 8,529,162	$ 15,380,489

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents (Note 3)	$ 8,529,162	$ 15,380,489
Term deposits (Note 4)	29,361,215	27,499,188
Marketable equity securities (Note 5)	1,175,892	98,053
Income tax receivable (Note 10)		8,091,104
Prepaid expense and other	289,488	458,939
Total current assets	39,355,757	51,527,773
Property, plant and equipment, net (Note 6)	384,390	1,416,152
Total assets	39,740,147	52,943,925
Current Liabilities:
Accounts payable and accrued expenses (Note 2)	713,485	647,283
Severance accrual (Note 9)	743,511	531,981
Income tax payable (Note 10)	9,707,779
Contingent value rights (Note 2)		172,077
Total current liabilities	11,164,775	1,351,341
Total liabilities	11,164,775	$ 1,351,341
SHAREHOLDERS' EQUITY
Preferred Stock, Shares Issued		0
Contributed surplus	20,625,372	$ 20,625,372
Stock options (Note 9)	23,661,590	23,561,301
Accumulated deficit	(318,392,763)	(295,273,771)
Total shareholders' equity	28,575,372	51,592,584
Total liabilities and shareholders' equity	$ 39,740,147	$ 52,943,925